Blog Posts Tagged with "fraud"

"This is by far the largest... identity theft/credit card fraud cases that law enforcement has come across. Credit card fraud and identity theft are two of the fastest growing crimes in the United States, afflicting millions of victims and costing billions..."

The FS-ISAC consists of a group of banks that shares threat information and interacts with the federal government on critical infrastructure issues. Its members include Citi, Prudential, Bank of America, JPMorgan Chase, Goldman Sachs and Wells Fargo, among others...

Here we are in 2011 and well over half a billion records have been breached. While not all of the compromised records were held by financial institutions or were accounts considered “high-risk”, many of those breached accounts have resulted in financial fraud or account takeover...

"These man-in-the-middle attacks are potentially possible on a wide variety of electronic voting machines. We think we can do similar things on pretty much every electronic voting machine. This is a national security issue. It should really be handled by the Department of Homeland Security..."

Make sure your company has a policy and operational execution against that policy that looks at data protection, remote access and computer account privileges during terminations that provide for securing company property, password changeovers within the company and outside vendors...

“Foster exploited his position as a trusted insider to embezzle tens of millions of dollars and to conceal the theft for as long as possible. The FBI is determined to uncover bank larceny in any form,” said FBI Assistant Director in Charge Fedarcyk...

Encouraging internal reporting helps you detect misconduct in its earlier stages. The sooner you investigate, the sooner you put an end to the misconduct reported. For fraud cases, this is particularly important, as stopping fraud sooner results in less money lost...

Even today, the HRdirector may have a new boyfriend who happens to have a drug problem, and who needs her to steal your identity so that he can get a fix. The fundamental issue of identity theft hasn’t changed, and the people doing it are the same. Frequently, they are those on the inside...

EMV and contactless technologies do not entirely solve the fraud problem. While they minimize fraud in the case of card present transactions, they do not even address fraud in card not present transactions. And it is in card not present transactions where fraud is most prevalent...

A true identity theft protection service monitors your identity by checking credit reports and scanning the Internet for your personal information. It looks out for your Social Security number, and if something goes wrong, has people who’ll work with you to resolve the problem...

Over the past decade criminals have learned the ins and outs of exploiting online banking using PC’s. In the past 15 years or so, the desktop computer has been hacked in every possible way, making the computer and the data it contains and transmits extremely vulnerable to fraud...

Whatever your business, Security Risk Management should be in that pie chart—as an integrated slice of your business. Integration is tenet number one, and as a security professional in your company, your main job is to be a business enabler and evangelist to make this so...

A Florida waitress used a skimmer to steal their credit card information, make new cards and rack up thousands of dollars in charges at Radio Shack and Walmart—all on their dime. The 25-year-old told authorities she targeted customers who she thought treated her poorly by running her around...

The lack of specifics makes it difficult for victims to attain any closure and move forward. “No matter how well they monitor their financial records for the rest of their lives, they may still feel vulnerable,” Van Vliet says...

FINRA found that Citigroup failed to detect or investigate a series of "red flags" that upon further inquiry should have alerted the firm to the improper use of customer funds, including reports reflecting suspicious transfers of funds between unrelated accounts...

The results of a live poll conducted at its annual North American Insights client conference show fraud and cyber crime continue to be among the most daunting issues that banks are facing today. Bankers believe it is a challenge that they will never be able to get under control...